Question

1. What are the three most important characteristics shared by successful entrepreneurs?

2. What is the most important component in the SWOT analysis?

Subject - Entreprenshp/Sm Bus Mgmt

Answer 1

1. Three most important characteristics that successful entrepreneurs should possess are:

- adaptability- the business environment is not always as one has thought of it when starting the business. There can be many variations which may lead to changes in business plans or goals. The entrepreneur should be adaptable to such changes to attain success facing any challenge and surviving the business in any environment.

- persistence- it is the will power and strength to survive in all difficult times that the business faces. These challenges can come from customers, competitors or employees. Facing them and patiently solving them while moving ahead is required.

- hard work- business requires a commitment of working to the maximum capability until success is achieved and even more after it. Losing the grip once can lead to slipping everything from control. Hence dedication and determination are required to sustain and succeed in business.

2.